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fun fact: Advanced AI techniques work in very high dimensional spaces in such a way that it's impossible to clearly understand why a program reaches a conclusio

fun fact: Advanced AI techniques work in very high dimensional spaces in such a way that it's impossible to clearly understand why a program reaches a conclusion that it does. Market trading is about allocating capital that decides how labor itself is allocated. So, increasingly, we have computers that are telling people what to work on and we don't know why they are making those decisions. We could remove the computers, but then our economy would likely fall into a deflationary spiral / depression due to lack of growth.

eru 10y ago
A drop in real GDP, perhaps. A deflationary spiral or depression? No need. The central bank can always print enough money and buy enough assets to keep spending up.
dx034 10y ago
Those engineers are probably not working on AI. The traders were receiving phone orders from clients and executed them. Now there's a platform where clients put in trades which get executed. The engineers develop the platform and enable the remaining traders to trade orders efficiently. It's probably at least 30% front-end web developers, many testers, some back-end developers. Execution only trading engines aren't that hard to develop.